to the dance that brought us here - our pioneering approach to tracking house
trends and other analytical data at the neighbourhood level.
Heat Map: Toronto Neighbourhoods by House Price Appreciation, 2011 to 2012
Map Instructions: On upper right hand side of map, click on green tab on box to hide legend. On upper right hand side of map, click on box to expend legend.
Central Toronto Houses Hot
Seven of our top ten
neighbourhoods are in central Toronto (west of DVP and east of Dufferin). In one half of the tale of two cities (the
other being the gossamer that is Toronto's condoland), strong demand from urban families, coupled
with a finite number of houses in central Toronto, means higher prices.
And in neighbourhoods offering detached
houses or top schools, the appreciation is significant. The neighbourhoods on this list have appreciated 21% to 27%, well above the citywide appreciation rate of approximately 6%.
Almost one in four properties in Toronto sold for "over the asking price" in 2012 - a striking number as this is an indirect way to assess multiple offer activity. Half of the neighbourhoods on our list rated above the city average with 37-52% of properties selling "over asking."
Inner Burbs Rise
A handy catch-all, the “urban family” actual
encompasses several profiles. The New
Urban (Nuburban?) family wants to ditch the commute, but not the detached house, larger
lot and green lawns. This family sacrifices space, which they
prize, and could buy more of in the outer suburbs, to gain time. These preferences are driving up prices in some inner burb (Etobicoke, North York, East York) neighbourhoods - see Islington Village, Parkwoods and Victoria Park Village on our list.
Luxury Redefined
The
Established Urban family drives demand in
upper-end neighbourhoods like Allenby, Caribou Park, Rathnelly and Casa Loma on our list. They value the pedigree of the neighbourhood, larger houses and local schools, rather than their urban features per se, but do appreciate excellent subway access and top quality main streets.
Long-standing luxury neighbourhoods - Forest Hill, Bridle Path and Teddington Park - start on higher ground so it's rare to see them on "best appreciation" lists - so while Forest Hill makes our list, it's important to note that a handful of super luxury sales can skew the average.
Urban Beauties
Core Urban families value the "urban" in urban living - diversity, access to bike lanes and public transit and walkable
main streets. These preferences lead them to lead boldly in less economically established areas in very downtown locations, unfazed by the prospect of shared walls - think Dufferin Grove and Trinity Bellwoods on our list. These consumer preferences are at the core of Toronto’s urban revitalization trend of the past 10
years and counting, a period which may one day be seen as seminal in our city's history.
Understanding the Data
1. Allenby (Central) See Current Houses for Sale in Allenby
Avg. Price 2011: $846,534
Multiple Offer Activity: 52%
Housing Breakdown: 100% Detached
Walkability: 72/100
Popularity Points:
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Allenby
2. Caribou Park (Central) See Current Houses for Sale in Caribou Park
Avg. Price 2012: $942,877
Avg. Price 2011: $745,408
Multiple Offer Activity: 17%
Housing Breakdown: 74% Detached, 26% Condos
Walkability: 63/100
Popularity Points:
Full Neighbourhood Profile for Caribou Park
3. Islington Village (West) See Current Houses for Sale in Islington Village
Avg. Price 2012: $611,917
Avg. Price 2011: $490,361
Multiple Offer Activity: 9%
Housing Breakdown: 50% Condos, 43% Detached, 3% Condo Townhouse, 3% Row/Townhouse, 1% Other
Walkability: 38/100
Popularity Points:
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Islington Village
4. Dufferin Grove (Central) See Current Houses for Sale in Dufferin Grove
Avg. Price 2011: $703,408
Multiple Offer Activity: 54%
Housing Breakdown: 48% Semi-Detached, 28% Detached, 12% Row/Townhouse, 10% Condo Townhouse, 2% Condos
Walkability: 92/100
Popularity Points:
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Dufferin Grove
5. Forest Hill (Central) See Current Houses for Sale in Forest Hill
Avg. Price 2011: $1,054,733
Multiple Offer Activity: 17%
Housing Breakdown: 56% Detached Houses, 27% Condos, 12% Co-Op, 3% Semi-Detached, 2% Row/Townhouse
Walkability: 63/100
Popularity Points:
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Forest Hill
6. Rathnelly (Central) See Current Houses for Sale in Rathnelly
Avg. Price 2011: $710,149
Multiple Offer Activity: 18%
Housing Breakdown: 57% Condos, 39% Semi-Detached, 5% Detached
Walkability: 83/100
Popularity Points:
Top Elementary Schools:
Full Neighbourhood Profile for Rathnelly
7. Trinity Bellwoods (Central) See Current Houses for Sale in Trinity Bellwoods
Avg. Price 2011: $656,268
Multiple Offer Activity: 41%
Housing Breakdown: 40% Row/Townhouse, 32% Semi-Detached, 17% Detached, 6% Condo Townhouse, 5% Condos
Walkability: 90/100
Popularity Points:
Full Neighbourhood Profile for Trinity Bellwoods
8. Casa Loma (Central) See Current Houses for Sale in Casa Loma
Avg. Price 2011: $968,437
Multiple Offer Activity: 37%
Housing Breakdown: 50% Detached, 23% Row/Townhouse, 17% Condo Townhouse, 10% Semi-Detached
Walkability: 80/100
Popularity Points:
Full Neighbourhood Profile for Casa Loma
9. Parkwoods (Central) See Current Houses for Sale in Parkwoods
Avg. Price 2011: $454,074
Multiple Offer Activity: 39%
Housing Breakdown: 46% Detached, 33% Semi-Detached, 19% Condos, 1% Condo Townhouse, 1% Other
Walkability: 67/100
Popularity Points:
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Parkwoods
10. Victoria Park Village (Central) See Current Houses for Sale in Victoria Park Village
Avg. Price 2011: $355,028
Multiple Offer Activity: 19%
Housing Breakdown: 38% Detached, 37% Condos, 13% Semi-Detached, 9% Condo Townhouse, 3% Row/Townhouse, 1% Other
Walkability: 65/100
Popularity Points:
Full Neighbourhood Profile for Victoria Park Village
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